Roblox Revenue Explodes 140% in First Report Since Going Public

Online gaming platform Roblox reported its first earnings report this week since the company went public in March and revealed that revenue had grown a staggering 140%.

Shares jumped as much as 5% in after-hours trading on Monday as Wall Street digested the numbers.

For the first quarter, Roblox reported a loss of 46 cents a share and revenue of $387 million. This was up from 140% a year ago.

In a direct listing, Roblox shares begin trading at $64.50 in March, a 43% increase from the company’s last private financing round in January.

It closed at $64 on Monday before the after-hours gain.

Roblox additionally reported for the first quarter that daily active users (DAU)s rose to 42.1 million. This was up 79% from last year. Users had spent 9.7 billion hours on the platform, an increase of 98% YOY.

This engagement led to $652.3 million in bookings, up 161% year over year. On a quarterly basis, the average booking per daily active user was $15.48, up 46% year over year.

Looking ahead, Roblox has offered early guidance for the second quarter with results for the month of April. April revenue was between $143 million and $145 million, up around 138% from the period last year.

DAUs rose by 37% to 43.3 million compared to April of 2020. Bookings were between $242 million and $245 million, up about 60%, translating to an average booking per DAU of between $5.59 and $5.66, up about 16%.

During the earnings release, co-founder and CEO Dave Baszucki remarked, “Our hearts go out to the people around the world who are still suffering as a result of COVID-19. It appears we’re making progress, and it’s also clear that this virus is still a global challenge. Like everyone, we want to put these risks behind us as soon as possible. Just this month, at Roblox, we’re going to begin to open our offices on a limited basis. And we hope that by mid-September, our offices can be fully opened. This is our first earnings call since our direct listing on March 10.”

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.